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BANKLINK AND TFP FORM PARTNERSHIP TO PROVIDE ENHANCED WIRE TRANSFER CAPABILITY
BANKLINK, a unit of Fiserv, Inc., and TFP, a leading provider of information and technology solutions to the worldwide financial community, have formed a partnership to provide enhanced wire transfer capability to financial institutions and their corporate customers.
BANKLINK AND TFP FORM PARTNERSHIP TO PROVIDE ENHANCED WIRE TRANSFER CAPABILITY
Financial Institutions and Their Corporate Customers to Benefit from Enhancement of iLINK Wires, Multi-Currency High-Value Payments Application
NEW YORK, NY -- November 4, 2002 -- BANKLINK, a unit of Fiserv, Inc. (NASDAQ:FISV) and a leading provider of Web-based treasury management products and services, announced today the formation of a partnership with TFP, an operating unit of Thomson Media, and leading provider of information and technology solutions to the worldwide financial community.
The objective of the partnership is to provide additional wire transfer benefits that financial institutions can market to their corporate customers," according to Ed Hansch, BANKLINK's VP of Product Development.
The benefits to corporate customers include an intuitive on-line search and retrieve capability. Users can choose to search by the Financial Institution Name or the Financial Institution Identifier. Customers can validate bank identifiers prior to the execution of their wire instructions. In addition, correspondent bank relationships are identified and integrated into the payment instructions. The benefits are possible due to the integration of TFP's electronic payment processing file into iLINK Wires, BANKLINK's wire transfer solution.
The integration offers several benefits to financial institutions including increased straight-through processing rates, reduced exception processing times, and monthly database updates to ensure that the most current information is available. In addition," said Hansch, the integration will be particularly useful for smaller banks and the small business market where correspondent bank relationships are more likely to be used to fulfill wires and tend to be unknown to the corporate customer."
iLINK Wires is part of the iLINK suite of Cash Management Solutions which also includes iLINK ACH, iLINK Reporting and iLINK Cash Con. iLINK products are currently marketed by 15 financial institutions including 1st Mariner Bank of Baltimore, Capital City Bank of Tallahassee, and United Bank of Parkersburg, WV.
Mr. Shaun Hassett, TFPs Strategic Alliance Manager added, As official routing number registrar for the American Bankers Association since 1911, TFP understands the accuracy required in financial transactions. TFP's electronic payment file fits well with BANKLINKs iLINK because it too was designed to provide an end-to-end payment routing validation, virtually eliminating the potential for transaction failure in wire origination."
About BANKLINK
BANKLINK, on the Web at www.BANKLINK.com, is celebrating its 25th anniversary of specializing in electronic treasury management solutions. Established in 1977 as a full-service electronic banking company, today BANKLINK provides product and service solutions to over 130 financial institutions worldwide to meet the needs of 20,000 treasury management customers. The BANKLINK portfolio of information reporting and transaction initiation services features iLINKTM, x-changeLINKSM, SERIES 2000TM, MoneyWorksTM and EasyPayTM. BANKLINK is located in New York, New York.
Fiserv, Inc. (Nasdaq:FISV) is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 13,000 financial services providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisors, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at www.fiserv.com.
About TFP
TFP (www.tfp.com), a division of Thomson Media, is a leading provider of data and software solutions for financial and corporate institutions worldwide. Our goal is to improve the efficiency of our clients by providing customized data solutions covering multiple functional areas, including payments, compliance, vendor interfaces and marketing. TFPs product lines include Check Operations, Marketing Services, Payment Efficiency, Reference Tools for Banking and Risk Reduction. TFPs solutions assist in accurately originating payments to realize higher STP rates; facilitating the repair of rejected transactions; ensuring compliance with the USA PATRIOT Act and regulatory agencies such as the U.S. Treasurys OFAC and FinCENs Currency and Wire Reporting; avoiding money laundering, fraud (www.FraudBAN.com) and other perilous business practices; and, facilitating the automated exchange of operational data between financial institutions. TFP maintains the most authoritative and comprehensive databases of financial institutions globally and has been the official routing number registrar for the American Bankers Association since 1911. For more information, visit TFP on the Internet at www.tfp.com or call (847) 676-9600.
Thomson Media (www.thomsonmedia.com), a division of The Thomson Corporation, is a leading provider of information, data and software tools for professionals in the financial services and related technologies markets. Its primary products and businesses include: American Banker, Financial Planning, National Mortgage News, The Bond Buyer, Securities Industry News, The Global Banking Resource (www.tgbr.com), National Regulatory Services, Payments & Risk Solutions Products, Credit Card Management, and Sheshunoff Information Services. More than 750,000 clients use Thomson Medias publications, databases and work solutions worldwide.
The Thomson Corporation (www.thomson.com), with 2001 revenues of $7.2 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software applications and tools to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. The Corporations common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
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